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March 2013 Buyers Survey Results

The results of OMREB's MARCH 2013 Buyers Survey are posted! A total of 184 respondents participated in this survey – representing 55.9% of the 329 OMREB sales representatives who acted as Buyers Agents, and 39.8% of the 462 deals closed on behalf of Buyers in February.

MARCH SURVEY SUMMARY

Property Type:24.6% of purchases were by Move-Up Buyers (up from 21.3% in February)*16.2% by First Time Buyers (down from 19.7%)10.6% moving from Single Family Home to Strata Unit (up from 7.1%)*10.6% buying Revenue/Investment Property (down from 13.2%)7.8% moving into Retirement Home/Seniors Community (up from 7.1%)*7.3% purchasing Recreation Property (down from 12.6%)6.1% moving from Strata property to Single Family Home (down from 6.3%)

* During the month of March, there was an increase in purchases by Move-up Buyers as well as owners of Strata units moving to Single Family homes, and Seniors moving into Retirement Communities.

Buyer Type (Family Dynamic):27.5% Empty Nesters/Retired (up from 18.8% in February)**25.8% Couple without Children (same as February) 23.1% Two Parent Family/Children (down from 30.5%) 12.6% Single Female (up from 10.9%)** 7.7% Single Male (similar to February)2.2% Single Parent with Children (down from 3.1%)

** In March, there was an increase in purchases by Empty Nesters and Single Females, while other categories remained the same or saw decreases.

Moving From:57.6% from Within OMREB Board Area (down from 68.2% in February)17.9% from Alberta (up from 11.6%)***10.3% from Other Areas in BC (up from 5.4%)***8.7% from Lower Mainland/Vancouver Island (up from 5.4%)***2.7% from Saskatchewan/Manitoba (down from 3.1%)1.6% from Eastern Canada/Maritimes (down from 3.1%) 1.1% from Outside Canada (down from 3.16%)0% from NWT/Yukon (same as February)

*** Compared to February, there was more movement from Alberta, other areas of BC, and the Lower Mainland/Vancouver Island.

MARCH 2013 RESULTS & HIGHLIGHTS:* Full summary of survey results with pie charts* This month's highlights* Who is Buying Homes in the Okanagan-Shuswap? hand-out

2011-2013 PIE CHARTS – Plus 2010-2013 Averages:* Compiled averages for the two main categories - Buyer Type and Where From - during the past 31 months (since September 2010) to show trends.* 2013 pie charts for first quarter - showing averages compiled for all five Survey categories* 2012 pie charts and 2011 pie charts to compare.

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